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Friday Free-for-all! Rates, Pop, HPI, Dip

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123 Comments

It’s the end of another week, time for a long weekend!

And since it’s Friday that means it’s time for our regular end of the week news round-up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

–Banks in trouble if bubble pops
–WTF is the HPI?
–Cost of debt dips
–High end sales dip just a blip?
–Crash fears rising
–US new home sales slide
–China RE price drop trigger protests
–

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent long weekend!

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Friday Free-for-all! Rates, Pop, HPI, Dip

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Noelia

Why people still use to read news papers when in this technological globe the whole
thing is accessible on web?

Here is my weblog Birthday Wishes

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mac

It’s not “data”, it’s real life. Why would I post something not happening. We pay now 2500. There’s a 2 point something allowable increase coming up for us in Nov taking us to 2550. There are 4 units the same as our with 2 new tenants. They PAY 2800 plus 75 for parking plus 50 for storage. The two new units were rented without a gap. There is also lots of construction noise. And the 1-beds now go for 1850. You have a generous landlord. But if you are indeed in the OV, a short conversation between your landlord and our landlord could net a different result for you. It’s not pleasant. We also look around Craigslist but all I can see is rents that have gone up dramatically on the Westside over this past year. I always look. I… Read more »

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YLTNboomerang

#99 Where did you get your rent data from, is your neighbour paying this new higher rent or is the landlord asking for this? This information is key as asking rent and actual rent can differ significantly. I’ve been renting in the area for 5 years now and have seen rents decline after peaking 2 years ago. Our lease clearly states that rent will go up at levied rates however every year I write the cheques for the same amount as our landlord knows good tenants are hard to find. Every year before we write the new cheques I parse the listings and compile a list to provide should the landlord ask for a higher rent (my counter will actually be to ask for lower). This activity will be commencing soon (next month) so I’ll report back what I find… Read more »

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Harry Wang

BMW M5 loses control, crashes into wooden bus stop at MacDonald & King Edward (VIDEO)

http://www.vancitybuzz.com/2014/09/bmw-m5-loses-control-crashes-wooden-bus-stop-macdonald-king-edward-video/

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joe

Chinese nationals ‘illegally’ buying luxury Australian real estate are forcing prices up by 30 per cent, leading agent claims

Foreign investors are illegally buying premium property in Australia’s most expensive suburbs and are pricing locals out of the market, a leading buyers’ agent has claimed.

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Boombust

#115

You’re an idiot.

When was the last time you managed a kindergarten class or taught Grade 11 Algebra?

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Yunak

And there are still some people that dare to say Vancouver isn’t a world class city…

http://www.theprovince.com/touch/news/vancouver/Vancouver+fast+becoming+City+luxury+purchase+opportunities/10154846/story.html?rel=10168859

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Education Ministry

Can’t wait until education is privatized. We will see if there is real money here. Real education and express entry into Universities for private school kids..and babysitting services for the working poor.

Closer than you think. Funny thing is that the working poor are the ones bashing the present education system. Haha.

can’t wait to invest in the stock of some of these upcoming private schools.

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paulb

New Listings 367
Price Changes 127
Sold Listings 162

TI:15549

http://www.paulboenisch.com

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Randy Randerson

http://www.cbc.ca/news/canada/toronto/centrium-condo-9m-in-deposits-returned-to-residential-buyers-1.2753306

An update on the Centrium tower debacle in Toronto. Residential unit investors will get their $9 millions back, commercial unit investors will have to wait for RCMP’s investigation.

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UBC in Crisis Mode

OK, Tuesday is passed, why are we still on “Friday Free-for-all!” page?

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Heard Herd selling

I heard the opsal is not standing straight, ie unlevel, she be the first to topple when earthquake hits

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patriotz

@109:

CoV isn’t adding social housing to the OV, in fact it has cut it to only 1/2 of the original plan. The change was discussed on this forum at the time.

http://www.cbc.ca/news/canada/british-columbia/vancouver-cuts-olympic-village-social-housing-1.882070

Or perhaps you mean something nearby.

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mac

Prostitues in the OV. Haven’t seen or heard em. Yet 🙂 The new social housing is becoming a big problem. I don’t know how much more they plan to add to this area but I’d say it’s at its max.

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Yunak

@107, Simon

Tiger moms have moved kids to private schools on time so they can continue with their usual daily activities, before picking kids up from school, like Oakridge mall and German car dealerships strolling, coupons collecting, RE portfolio tracking. They are always prepared, proactive and ahead of the regular crowd. I believe some of them even started to go to gym, pool and even Starbucks.

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Simon

Back to school for another year of world-class education in beautiful B.C.

Oh wait… The teachers are on strike?

Well, I am sure the Tiger moms won’t mind at all.

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kabloona

Canada’s housing market among most overvalued in the world: Economist By Brenda Bouw | Balance Sheet: https://ca.finance.yahoo.com/blogs/balance-sheet/canadas-housing-market-among-most-overvalued-in-the-183022085.html “Canada’s housing market is among the most overvalued in the world and “bears an unhappy resemblance” to what the U.S. housing picture looked like before the financial crisis, according to the latest data compiled by The Economist magazine. Measured using price-to-rent and price-to-income ratios, the Economist says housing markets are at least 25 per cent overvalued in nine of the 23 economies it tracked. When comparing the relationship between the costs of buying and renting, it cited Canada, Hong Kong and New Zealand as “the most glaring examples” of overheated markets. “The overshoot in these economies and others bears an unhappy resemblance to the situation that prevailed in America at the height of its boom, just before the financial crisis,” the magazine states.… Read more »

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Madashell

Sorry, I meant #100

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CBC

@ladnerbay

I read Garth’s site a few days ago and he obtained a statistic from CMHC that stated “The average insured mortgage is $231,000″.

Is that canadian avg? I bet its a lot higher in toronto calgary and vancouver

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Madashell

#99

That stats is for Canada where the price for Vancouver is 4xs the national average. Had dinner with a chinese westside accountant and he said most of his clients are leveraged up to their yen-yan and if interest goes up or prices drop, these guys are screwed big time. Look out below.

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Son of Ponzi

#99
I understand that many escort services are working out of thesenew, partially empty high-rises
Obviously, fhey like the privacy, and they don’t mind paying these high rents.

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Son of Ponzi

#99
thanks for your report from the trenches.
2,400 to 2,800 rent for 2 beds seems kind of stiff.
I’d never pay that much.
Even in Richmond, you’d get a whole house for less.

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LadnerBay

I read Garth’s site a few days ago and he obtained a statistic from CMHC that stated “The average insured mortgage is $231,000”.

Based on this, I don’t think there will be a crash if interest rates rise. People buying million dollar homes obviously have lots of money. Most likely it is HAM and foreign buyers. Move up buyers is a lesser possibility.

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mac

Opsal could have gone up in price. The other buildings along W 1st were asking and getting just under 100K more than pre-sale for a 2-bed, 700K range. But once all the taxes, fees for selling are paid , etc, investors are only left with 20-30K profit. But a nice cushion for anyone who is intending to live there and fearing a decline. As for the inversion of crazy Vancouver real estate fundamentals…. I can frustratingly tell you that not only as they add more units to the neighbourhood do the prices go up but rents go up to?! Only in Vancouver aye? Our example: we moved in here when almost no one else was here. Paid 2400 for 2-bed 2-patios partial view of downtown (Tiny view really and only from one window). We negotiated 2 parking and storage into… Read more »

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